Readystate Asset Management LP Takes Position in BOK Financial Corporation $BOKF

Readystate Asset Management LP bought a new stake in shares of BOK Financial Corporation (NASDAQ:BOKF) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,202 shares of the bank’s stock, valued at approximately $2,459,000.

Several other hedge funds have also recently modified their holdings of BOKF. Farther Finance Advisors LLC increased its holdings in BOK Financial by 173.1% in the 4th quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock worth $25,000 after buying an additional 135 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of BOK Financial during the 4th quarter valued at about $31,000. Fifth Third Bancorp grew its stake in shares of BOK Financial by 2,291.7% in the first quarter. Fifth Third Bancorp now owns 287 shares of the bank’s stock worth $37,000 after acquiring an additional 275 shares during the period. Covestor Ltd raised its holdings in shares of BOK Financial by 108.0% during the fourth quarter. Covestor Ltd now owns 366 shares of the bank’s stock valued at $43,000 after purchasing an additional 190 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in BOK Financial by 56.2% during the first quarter. Root Financial Partners LLC now owns 367 shares of the bank’s stock valued at $47,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 34.44% of the company’s stock.

BOK Financial Stock Performance

Shares of BOK Financial stock opened at $142.44 on Wednesday. The stock’s fifty day moving average is $135.06 and its two-hundred day moving average is $131.94. The company has a market capitalization of $8.65 billion, a PE ratio of 13.43 and a beta of 0.80. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. BOK Financial Corporation has a 52 week low of $97.40 and a 52 week high of $143.65.

BOK Financial (NASDAQ:BOKF) last announced its earnings results on Monday, July 20th. The bank reported $2.59 earnings per share for the quarter, missing the consensus estimate of $2.68 by ($0.09). The business had revenue of $589.40 million for the quarter, compared to analysts’ expectations of $568.08 million. BOK Financial had a return on equity of 10.13% and a net margin of 18.97%.The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.19 earnings per share. As a group, analysts expect that BOK Financial Corporation will post 10.32 earnings per share for the current year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were issued a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. BOK Financial’s dividend payout ratio is currently 23.75%.

Insider Activity

In related news, Director Steven Bangert sold 2,100 shares of BOK Financial stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $134.78, for a total transaction of $283,038.00. Following the completion of the sale, the director owned 32,816 shares of the company’s stock, valued at $4,422,940.48. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark B. Wade sold 1,700 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $132.62, for a total value of $225,454.00. Following the completion of the sale, the executive vice president owned 20,361 shares in the company, valued at approximately $2,700,275.82. This represents a 7.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,309 shares of company stock valued at $577,203. Company insiders own 63.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on BOKF. Wells Fargo & Company lifted their target price on shares of BOK Financial from $130.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Weiss Ratings restated a “buy (b)” rating on shares of BOK Financial in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their price objective on BOK Financial from $143.00 to $146.00 and gave the stock a “market perform” rating in a report on Friday, July 24th. Benchmark assumed coverage on BOK Financial in a research report on Wednesday, June 24th. They set a “hold” rating for the company. Finally, Citigroup reissued a “neutral” rating on shares of BOK Financial in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $139.00.

BOK Financial Company Profile

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.